GBPUSD Long 11/10/2024

Asset Class: Forex
Income Type: Weekly
Symbol: GBPUSD

Trade Type: Long

Trends:
Short Term: Down (1H, 4H)
Long Term: Up (Daily)

Set-Up Parameters:

Entry: 1.30616
Stop: 1.29970
TP1 1.32519 (3:1)

Trade idea:

4h DBR at breakout,
Downtrend Reversal to Uptrend
RSI oversold and showing strong Divergence.

!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.

Trade management:

**When price hits 1:1 or T1, consider moving stop to entry in case of pullback.


**Disclaimer**:

The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.